SEC 13F Intelligence

Managers / Q1 2026

Trails Edge Capital Partners, LP

CIK 0002077247 · 3455 PEACHTREE ROAD NE, SUITE 900, ATLANTA, GA, 30326 · 917-657-2249

Reported Value
$437M
Q1 2026
Positions
27
Filings on Record
2
2019–present window
Filed
May 15, 2026
original filing

Summary

Trails Edge Capital Partners, LP reported $437M in U.S.-listed holdings across 27 positions for Q1 2026.

Its largest position, PCVX, represents 8.8% of the portfolio.

Compared with Q4 2025, the fund opened 12 new positions and exited 9.

Portfolio Metrics

Turnover
+40.3%
vs prior filed quarter
Top-10 Concentration
+62.8%
share of reported value
Largest Position
+8.8%
Vaxcyte
New / Exited
12 / 9
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’25: $405MQ4 ’25Q1 ’26: $437MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 90.4%ADR: 8.1%Other: 1.6%
  • Common Stock · 90.4% · $394M
  • ADR · 8.1% · $35M
  • Other · 1.6% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DFTXDEFINIUM THERAPEUTICS INCNEW+1.74M1.74M+$33M$33M
RVMDREVOLUTION MEDICINES INCNEW+245.0K245.0K+$24M$24M
CYTKCYTOKINETICS INCNEW+300.0K300.0K+$20M$20M
SNDXSYNDAX PHARMACEUTICALS INCNEW+701.8K701.8K+$16M$16M
FDMT4D MOLECULAR THERAPEUTICS INNEW+1.30M1.30M+$12M$12M
DSGNDESIGN THERAPEUTICS INCNEW+852.0K852.0K+$9M$9M
NERVMINERVA NEUROSCIENCES INCNEW+1.42M1.42M+$9M$9M
PMNPROMIS NEUROSCIENCES INCNEW+557.1K557.1K+$7M$7M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PCVXVAXCYTE INChistory →COM8.82%$38M662.5K
2DFTXDEFINIUM THERAPEUTICS INChistory →COM SHS7.53%$33M1.74M
3LBRXLB PHARMACEUTICALS INChistory →COM SHS7.45%$33M1.32M
4MIRMMIRUM PHARMACEUTICALS INChistory →COM7.05%$31M333.3K
5NRIXNURIX THERAPEUTICS INChistory →COM6.19%$27M1.74M
6XENEXENON PHARMACEUTICALS INChistory →COM5.86%$26M440.0K
7RVMDREVOLUTION MEDICINES INChistory →COM5.46%$24M245.0K
8RCUSARCUS BIOSCIENCES INChistory →COM5.19%$23M1.05M
9IMCRIMMUNOCORE HLDGS PLChistory →ADS4.71%$21M682.6K
10CYTKCYTOKINETICS INChistory →COM NEW4.53%$20M300.0K
11SNDXSYNDAX PHARMACEUTICALS INChistory →COM3.76%$16M701.8K
12NGNENEUROGENE INChistory →COM3.62%$16M782.8K
13IVAINVENTIVA SAhistory →ADS3.38%$15M2.66M
14IKTINHIBIKASE THERAPEUTICS INChistory →COM NEW3.10%$14M8.06M
15FDMT4D MOLECULAR THERAPEUTICS INhistory →COM2.78%$12M1.30M
16XFORX4 PHARMACEUTICALS INChistory →COM NEW2.43%$11M2.57M
17IMVTIMMUNOVANT INChistory →COM2.36%$10M414.1K
18DSGNDESIGN THERAPEUTICS INChistory →COM2.08%$9M852.0K
19CAMPCAMP4 THERAPEUTICS CORPhistory →COM1.96%$9M1.94M
20NERVMINERVA NEUROSCIENCES INChistory →COM NEW1.96%$9M1.42M
21PMNPROMIS NEUROSCIENCES INChistory →COM SHS1.62%$7M557.1K
22SOL-GEL TECHNOLOGIES LTDSHS NEW1.55%$7M85.5K
23IPSCCENTURY THERAPEUTICS INChistory →COM1.27%$6M2.45M
24VTVTVTV THERAPEUTICS INChistory →CL A NEW1.27%$6M139.6K
25FTHSENSEI BIOTHERAPEUTICS INCCOM NEW0.90%$4M125.0K
26IRDOPUS GENETICS INCCOM0.52%$2M500.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$437M27May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$405M23Feb 17, 202613F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.